GBP/NOK may rise to 13.8720 - 14.0280

Our pivot point stands at 13.3040.

Our preference

Rebound towards 14.0280.

Alternative scenario

The downside breakout of 13.3040 would call for 13.0430 and 12.8870.

Comment

The RSI is below 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price stands above its 20 period moving average (13.5102) but below its 50 period moving average (13.5938).

Supports and resistances

14.3410 **

14.1840 *

14.0280 **

13.8720

13.5442 last

13.4070

13.3040 **

13.0430 *

12.8870 **

Number of asterisks represents the strength of support and resistance levels.